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After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup

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Personal FinanceHousing

Maryland city offers $20,000 for people to move there

By
Chris Morris
Chris Morris
Former Contributing Writer
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By
Chris Morris
Chris Morris
Former Contributing Writer
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August 30, 2024, 11:11 AM ET
Move to Cumberland, Md. and these could be your neighbors.
Move to Cumberland, Md. and these could be your neighbors. Ricky Carioti—The Washington Post/Getty Images
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Cumberland, Md., isn’t a town that might normally ping people’s radars. It sits just south of the Maryland-Pennsylvania border and is roughly two and a half hours away from Washington, D.C., and Baltimore. But city officials are looking to change that, by offering prospective residents an incentive of up to $20,000.

The limited-time pilot program is designed to attract more families to live within Cumberland’s city limits. The city did not say how long it plans to offer the relocation bonus.

Here’s how it breaks down. Moving to Cumberland will earn you $10,000 in relocation cash, and the city is also offering up to $10,000 in dollar-for-dollar matching for either approved renovations on an existing home or for a down payment on a newly constructed home within the city’s limits.

You’ll have to live outside of Allegany County, which includes Cumberland (the county seat)—and you’ll either need to work remotely full-time, be able to prove you’re self-employed, or have either an existing or new job in the area.

Once you’re accepted into the program you’ll have six months to finalize your move—and you’re out of luck if you already have a house under contract with a realtor there.

Be prepared to stay a while, too. Residents who take advantage of the incentive will need to purchase a home (for at least $150,000) and make it their primary residence for five years. If something takes you away before that, you’ll be responsible for paying the money back to the city.

Cumberland is one of the poorest metropolitan areas in the country, but it does have a rich history, serving as an outpost for George Washington in the French and Indian War and was, during the 19th century, a terminus for railroads in the state. It’s also the home of Lover’s Leap, where you can see both Pennsylvania and West Virginia on a clear day.

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About the Author
By Chris MorrisFormer Contributing Writer

Chris Morris is a former contributing writer at Fortune, covering everything from general business news to the video game and theme park industries.

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